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Dainippon Screen Acquires Cypress's Silicon Light Machines Subsidiary

Wednesday, July 02, 2008

Press release from the issuing company

SAN JOSE, Calif. & KYOTO, Japan - (July 01, 2008) Cypress Semiconductor Corp. and Dainippon Screen Manufacturing Co. Ltd. (DNS) of Kyoto, Japan today announced that DNS has acquired Silicon Light Machines (SLM), a Cypress subsidiary.

The acquisition will make Silicon Light Machines a wholly owned subsidiary of DNS. Financial terms of the acquisition were not disclosed.

DNS is Silicon Light Machines' largest Grating Light Valve (GLV) customer. GLV technology, SLM's flagship product, consists of a series of microscopic ribbons suspended above a silicon substrate that can be precisely tuned to diffract laser light in different ways. The Micro-Electro-Mechanical System (MEMS) solution is ideal for computer-to-plate (CTP) commercial printing and other imaging applications.

Acquired by Cypress in August 2000, SLM also developed a high-performance laser optical navigation sensor technology marketed under the name OvationONS, which has become popular in high-end gaming, and other markets. The OvationONS product line is being integrated into Cypress's core business.

"This transaction reflects our desire to divest businesses that are not optimally aligned with our mission to become a global programmable solutions leader," said Cypress's President and CEO, T.J. Rodgers. "The divestiture of SLM's GLV business-the seventh such transaction in two years-will bring greater focus to our core business, while the integration of SLM's optical laser navigation technology will enable us to expand our suite of programmable solutions serving the keyboard/mouse market."

Masanari Tsuda, senior managing director and chief technology officer at DNS said SLM's technology will play an important role in the company's growing business. "Silicon Light Machines' GLV technology has been an enabler for our leadership position in thermal CTP printing applications. Now that it is part of DNS, we will be looking to this group to produce products that will enable us to expand our imaging technology into other markets."

Hal Zarem, CEO of SLM said, "SLM will transition from being a subsidiary of its main wafer supplier to becoming a subsidiary of its main customer. I'm pleased to be joining a forward-looking organization that is as committed to developing new products for new markets as Cypress has been."

Zarem added, "SLM will continue to serve its existing customers and grow its business as an independent company under a new corporate umbrella."




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